First Mineral Resource Estimate For Cata Clavo Zone
VANCOUVER - Great Panther Resources Limited reported that Wardrop, a Tetra Tech Company, of Vancouver, B.C., has completed the first NI 43-101 compliant mineral resource estimate on the zone known as the 'Cata Clavo' at the Company's wholly-owned Guanajuato Mine in Guanajuato, Mexico. The new resource estimate of 5,032,000 silver equivalent ounces (Ag eq oz) represents only a very small part of the 4.2 kilometre strike length of the Guanajuato deposit owned by the Company. Other zones, namely Guanajuatito and Rayas, are currently being mined and do not yet have a compliant resource. Further exploratory and delineation drilling are planned for these zones in order to establish additional resources in the future.
The Cata Clavo was the target of Great Panther's deep drilling program in 2008 and is separated into three zones, namely, the Veta Madre, Alto 1, and Alto 2. The upper limit of the Veta Madre zone is set at the floor of the 430 metre level as it has been extensively mined out above this level, and all zones extend at least 100 metres vertically below the 430 metre level. The mineralized zones used in the resource represent only this 100 metre vertical height and a strike length of approximately 150 metres.
Using a cut-off net smelter return value of US$37.50/tonne, the capped indicated mineral resource contains 5,032,000 ounces silver equivalent, while the uncapped indicated mineral resource contains 6,491,000 ounces silver equivalent. Capped inferred resources are estimated at 285,000 ounces silver equivalent.
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